Bloomberg Law with June Grosso and Michael Best on demand via our Bloomberg Radio Plus app, free for iPhone and Android devices. Now it's time for our daily Bloomberg Lab breef, exploring legal issues in the news and Today, Bloomberg Law host June Grasso discusses how the Securities and Exchange Commission is being affected by the election of Donald Trump. She speaks with Jim Cox, law professor at Duke University Law School. Jim is Trump's election a game changer for the sec
He's promised to dismantle Dodd Frank. But beyond that, what can we expect? Well, I think they could. They're going to have their plate very full with an initiative that Chairman White started than that is rethinking all the disclosure guidelines that apply to proxy statements, public offerings of securities, and annual reports and quarterly reports. That is ongoing. They're getting lots and lots of feedback on the question of
is there too much disclosure? What kind of disclosure should we And the important question is can we start scaling disclosure so that smaller companies have lighter burdens than larger companies and those can be justified. That is the process that is going to consume a awful lot of activity. The other area where I think that you're likely to see pushback and changes will be going back and re examining the various rules were put in for broker dealers.
That is, we have yet to see whether the SEC will adopt the benefit of the investor standard that Department Labor has developed as the fiduciary obligation that applies to broker dealers. We do have the Labor rule that applies
with respective retirement funds. My guess is that there's will be a total wholesale reexamination that rule, which has been very much opposed by the brokerage industry, and so it's going to be the result that that provision, which is actually mandated by Dodd Frank, will be one of the provisions to go and then in the area and force.
But my guess is at Republicans and Democrats have an approach enforcement with a fair degree of equanimity, and mainly because we find that it's not truly big big companies that become under the gun of at least SEC standard frauductions totally avoided the very strong lobby into history of the accounting industry, and so I don't think we're going
to see much change there. So enforcement will be something out there, but I think that benign neglect in some areas and then um using the initiatives have started by White to rethink and scale down substantially the disclosure burdens and as Jim Cox, a law professor at Duke University Law School, speaking with Bloomberg Lahouse stun Grasso, you can listen to Bloomberg Law week days at one pm Wall Street Time here on Bloomberg Radio and now among the
top legal stories from Bloomberg Law, Microsoft has submitted concessions to European Union ATTI Trust officials examining its takeover of LinkedIn, a move that may allow the deal to win early stage approval. Concessions made in the early stage of the e USE review, including s ST sales, can help regulators approve a deal without opening an investigation that could last at least four months. Microsoft and linked In have said they planned to close the deal by the end of
this year, and as this morning's Bloomberg Law Brief. You can find more illegal news at Bloomberg Law dot com and Bloomberg na dot com. Attorneys will find exceptional legal research and business development tools there as well. Visit Bloomberg Law dot com and bloomberg Enna dot com for more information.
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